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ABSA Repossessed Vehicle Auctions | Car Auctions Africa
ABSA repossessed vehicle auctions are worth visiting if you are looking to buy cheap cars. One of the leading banks in South Africa offers the option that allows you to avoid car dealers and get the car you want at a good price. Repossessed, or “repo” cars, have a reduced price because they are used to offset debt.
There are certain things you’ll need to purchase a vehicle at ABSA repossessed vehicle auctions. You will need a valid South Africa Identity document (ID) (preferably a certified copy), proof of your physical address and the proposed registration fee or deposit that you will be able to put down. If you have these then you can start bidding and drive away in the car of your dreams for an affordable price.
The only trouble with repo cars is that they are sold as they are without any guarantee, or as we say in South Africa “voetstoets”. This means that if something does go wrong with your car, you will have to pay for it. So when you consider buying the car, its best to have a look at the distance it has travelled, and the year it was first introduced into the market.
But it’s not all bad. One of the positives of buying through the bank is that you can apply for vehicle finance. This finance is suited to your individual needs and budget which means that you will not have to worry too much about paying the whole car off immediately. Unlike most car dealers, ABSA is a large business, which could mean that you could get more appealing rates and security that your repayments will be complete after a certain period of time. So if you’re in the marketto buy a new car, get down to ABSA repossessed vehicle auctions and start bidding now!
Retiring early 'not an option'
Johannesburg - Retiring early is no longer an option, Johan van Zyl, CEO of Sanlam and chair of the Association for Savings and Investment South Africa (Asisa) said on Tuesday.
His advice was part of Asisa's tips from captains of industry to consumers on how to make personal finance part of their New Year's resolutions.
"Considering that the average monthly pension in South Africa is less than R3 000, I would advise people to work longer to preserve their capital for as long as possible.
"Given the fact that we tend to live longer, retiring early, at age 55 or 60, is simply no longer an option for most."
Van Zyl added that another savings tip was to resist buying a new car.
"A car is never an asset - don't spend your life funding a liability.
"Rather use spare cash to pay off debt or invest the money sensibly," he said.
Asisa CEO Leon Campher said the best investment would always be to pay off debts first, including mortgage bonds.
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